U.S. Bancorp (NYSE:USB) Shares Bought by Northwest Bank & Trust Co

Northwest Bank & Trust Co lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 87.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937 shares of the financial services provider’s stock after acquiring an additional 437 shares during the period. Northwest Bank & Trust Co’s holdings in U.S. Bancorp were worth $43,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC grew its position in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB stock traded down $0.32 during mid-day trading on Thursday, reaching $44.78. The company had a trading volume of 1,865,785 shares, compared to its average volume of 8,220,899. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $69.88 billion, a P/E ratio of 14.93, a P/E/G ratio of 3.06 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The stock’s 50-day simple moving average is $44.44 and its two-hundred day simple moving average is $42.48.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s payout ratio is currently 66.23%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on USB shares. The Goldman Sachs Group lowered their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group lowered their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, DA Davidson raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $48.65.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.